May 31, 2003	Saturday	Rabi-ul-Awwal 28, 1424

ISLAMABAD, May 30: The flow of Foreign Direct Investment (FDI) reached $695.9 million during July-April showing an increase by 126pc against $307.6 million of the corresponding period of the previous year.

The major sectors which attracted notable FDI during the period are: Financial businesses ($204 million), oil and gas ($146 million), chemical ($81 million,) transport ($73 million), trade ($35 million), power ($30 million), textile ($24 million) and communications ($22 million).

The percentage share of major sectors in FDI inflows are financial businesses 29 per cent, oil and gas 21 per cent, chemical 12 per cent, transport 11 per cent, trade 5pc, power 4pc and other sectors as 18 per cent.

UK has taken the lead during this period by investing $208 million with the US at second position with FDI of $174.2 million and UAE being third with $113.7 million.

The share of major investing countries in FDI comes to UK 30 per cent, the US 25 per cent, UAE 16 per cent, Saudi Arabia 5 per cent, Japan 2 per cent and 22pc from other countries.

The visits of foreign business delegations to Pakistan have increased during the last 5 months. Investors’ delegations from North America, Europe, Bahrain, China, Singapore and Saudi Arabia have visited Pakistan to explore Pakistan’s potential and to have a meaningful interaction with the private sector.

The sizeable increase in the flow of FDI is an indicator that investors perception about Pakistan is improving. The BoI has initiated a number of steps to eradicate irritants and to restore the confidence of investors.—APP